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SeattleFoodTruck.com and Kiva are working together to help mobile food entrepreneurs in Seattle access the capital and customers they need to successfully grow their businesses. SeattleFoodTruck.com is hosting a series of articles about how small businesses can benefit from a 0% interest, crowdfunded loan from Kiva at various stages in their business’ lifecycle.

This the 2nd in a series of articles jointly written by Kiva and SeattleFoodTruck.com, focusing on business as they are getting started.

Arthur and Rachel are passionate about Southern cuisine.

To share their passion with people around the Bay Area, they founded Drums & Crumbs, a catering company and food truck specialising in Southern fried chicken.

Initially, they catered events such as farmers’ markets and winery parties in the area. But to bring their food to a wider audience and generate more regular income, they decided to start a food truck.

However, the build-out of their food truck took longer than expected. Additional costs, on top of delayed income, started to add up. As their savings dwindled, they realized that without funding, they might not be able to afford to run the truck they had been building for the past several months.

To carry out their growth plan, they needed to raise funds.

For many businesses owners in similar situations to Arthur and Rachel, sudden funding requirements can seem overwhelming.

Securing a loan from traditional sources is often challenging. Particularly as many traditional lenders are risk-averse and evaluate “creditworthiness” based on a narrow set of financial criteria (e.g. credit reports, bank statements, cash flows and collateral). These traditional loans are often out of reach for early-stage small-scale businesses.

Because these entrepreneurs can’t get traditional loans, they turn to alternative sources of capital, like OnDeck and Lending Club, who often times charge 10%, 20% and even 30% interest rates for their loans!

These rates can go even higher for ‘risky’ businesses, and this is where Kiva steps in

“I would encourage any small business owner about to launch a business in food or other industries to look into Kiva as it is a really great way to raise money through your community for working capital.”

As a non-profit, Kiva doesn’t charge any interest or fees on its loans; borrowers need only pay back what they borrowed. While almost all lenders charge interest, Kiva has shown that this model works by lending $15 million to U.S. entrepreneurs over the past five years.

Additionally, Kiva determines small business owners’ creditworthiness primarily through “social underwriting”. This system works by having members of the borrower’s community vouch for the credibility of the borrower directly, by investing at least $25 in their business. This way, Kiva loans are available to good borrowers, who are otherwise excluded from (or charged high rates by) other financial institutions.

In this way, Arthur and Rachel raised $5,000 from Kiva to cover working capital and expenses for their first six months of operation. They shared their story with the Kiva community, and over 120 lenders contributed to their successful fundraising.

When addressing their campaign, Arthur said “Kiva has been very helpful in getting us off the ground…to help us raise some working capital when our truck was being constructed. Since the truck construction has been completed, we’ve been off to a good start, and Kiva has provided a lot of good resources in terms of marketing and financial assistance in getting our business off the ground.”

Kiva also reports repayment rates to Experian, enabling the business to develop its credit score in preparation for future larger loans. When their business is ready for another (potentially larger) loan, entrepreneurs can approach traditional channels equipped with a better credit score, improving their chances to receiving a bank loan.

After a successful round of fundraising, Arthur and Rachel are looking towards expansion. Arthur said he plans to “take advantage of some of the other resources Kiva has in terms of building a broader working capital base to help fund our day-to-day finances and also look towards expansion.”

If you’re interested in learning more about Kiva or applying for a loan, visit borrow.kiva.org or email borrowers@kiva.org to take your first step in joining thousands of other entrepreneurs who have grown their businesses with Kiva.

]]>SeattleFoodTruck.com & Kiva present: How To Kickstart Your Mobile Food Truck Dreamshttp://www.seattlefoodtruck.com/how-to-kickstart-your-mobile-food-truck-dreams/
Mon, 31 Oct 2016 19:37:37 +0000http://www.seattlefoodtruck.com/?p=10747 SeattleFoodTruck.com and Kiva are working together to help mobile food entrepreneurs in Seattle access the capital and customers they need to successfully grow their businesses. Over the next few...

SeattleFoodTruck.com and Kiva are working together to help mobile food entrepreneurs in Seattle access the capital and customers they need to successfully grow their businesses. Over the next few weeks, SeattleFoodTruck.com will host a series of articles about how small businesses can benefit from a 0% interest, crowdfunded loan from Kiva at various stages in their business’ lifecycle.

Imagine the perfect day for your business. It’s probably a warm, sunny one (or at least not raining). You’ve found the ideal spot – tons of people are walking by and nobody is hassling you about parking violations. Your food is on-point – your preparation went smoothly and you produced the perfect amount of food to meet demand. People are raving about your food: they’re writing reviews and checking in on the spot. It’s the type of day that fills you with pride as well as fills your tip jar.

Now imagine a day where things start to go wrong. The weather takes a turn for the worse, you end up leaving the kitchen late, you get stuck in traffic on the 5 and end up getting a spot with less foot traffic, you get a flat tire… The list goes on and on.

Running a mobile food business can be a stressful affair, especially when it comes to dealing with uncertainty.

It doesn’t have to be that way.

Hundreds of food entrepreneurs have found peace-of-mind by raising 0% interest capital for their businesses from Kiva, a nonprofit that supports U.S. entrepreneurs.

Since 2012, Kiva has helped over 1,000 food entrepreneurs in the U.S. raise nearly $6.5 million in funding – all without charging a single cent of interest or fees.

As a nonprofit, Kiva is dedicated to increasing access to capital for business owners who need it the most: people who are unable to raise money for their business from traditional sources, like banks.

With 8,000 small business loan applications rejected in the U.S. every day, more and more entrepreneurs are turning to alternative sources of financing, and Kiva is here to help.

Kiva is a crowdfunding platform like Indiegogo and Kickstarter, except instead of donations or purchases, the “crowd” makes 0% interest loans to entrepreneurs fundraising on the platform.

Kiva’s “crowd” is made up of 1.5 million supportive lenders around the world, many of whom lend locally and become business’ new customers, brand ambassadors and fans.

Like Indiegogo and Kickstarter, entrepreneurs create a campaign where they tell their story and why they’re raising money. Unlike Indiegogo and Kickstarter, entrepreneurs on Kiva have a 90% public funding success rate.

“Food entrepreneurs have a 97% public funding success rate on Kiva!”

Over the next few weeks, SeattleFoodTruck.com will post a series of articles about how a Kiva loan can support at different stages in a business’ lifecycle. These posts will be anchored in stories of real entrepreneurs, who have grown their business through Kiva.

These entrepreneurs are people like Chris & Timfounders of The Wine Nomad, who borrowed $6,000 to purchase equipment and inventory to kick-start their wine business; and Natasha, founder of Nectar Cafe, who borrowed $10,000 to expanded her food truck and catering business to a brick-and-mortar location in Portland.

More than just capital, Chris & Time and Natasha had 249 people from Kiva’s community lend to them! These entrepreneurs now have larger networks of people who believe in them and their businesses.

This is the power of Kiva. Kiva’s community of lenders truly believes in supporting U.S. small business owners and shows so by expecting only the money they lent in return for their investment.

Every business owner has off-days, and Kiva is here to help entrepreneurs realize more perfect ones.

Check in again next week for more, and to learn more about Kiva, visit borrow.kiva.org or email questions to borrowers@kiva.org.

]]>Food Truck Q&A: Bread And Circuseshttp://www.seattlefoodtruck.com/food-truck-qa-bread-circuses/
http://www.seattlefoodtruck.com/food-truck-qa-bread-circuses/#respondFri, 20 May 2016 00:39:07 +0000http://www.seattlefoodtruck.com/?p=7993“You definitely don’t do street food to get rich. The margins are paper thin, and there are so many factors that you need to include in your price, from commissary rentals...

“You definitely don’t do street food to get rich. The margins are paper thin, and there are so many factors that you need to include in your price, from commissary rentals to truck maintenance.”

Food truck life isn’t for the faint of heart. For most independently owned and operated food trucks, you wear many hats, including the chef, mechanic, plumber, driver and even janitor. Running a restaurant on wheels comes with it’s own unique set of headaches, but can also serve as a jumping off point for bigger things to come. In 2010, New Orleans born chef Matt Lewis started Where Ya At Matt? food truck out of a love for cooking his families traditional Creole dishes. Four years later he went on to open the wildly successful Roux in Fremont. Roz Edison and Kamala Saxton grew Marination Mobile from a food truck serving Hawaiian/Korean tacos, to now three brick and mortar locations. And before Josh Henderson was revered as one of Seattle’s top restauranteurs, he was slinging food in a converted airstream as one of Seattle’s first food trucks known as Skillet Street Food. Nearly ten years later Josh has gone on to open over ten new restaurants including Westward, Great State Burger, Quality Athletics and later this year, a rooftop bar and restaurant inside the new Thompson Seattle Hotel. Skillet meanwhile has become a powerhouse of its own, with four restaurants, three catering food trucks and even their own line of signature bacon jam. But that’s not to say any of it came easy. With razor thin margins, long hours and a fail rate higher than restaurant standards, food truck life can be just as risky as it is rewarding. We decided to delve into the minds of the owners behind some of Seattle’s best food trucks and learn what really goes on behind the scenes of street food in a new series we call “Food Truck Q&A”

Now when it comes to the food truck life, not many people know more about it than Syd Suntha. Working his way up the ranks of some of Seattle’s best food trucks, including both Skillet Street Food and Where Ya At Matt?, Syd has taken years of experience, a culinary degree and a passion for street food to create his own truck known as Bread & Circuses. In little over a year, that truck has not only become one of the top trucks in Seattle, but most recently opened a pop-up restaurant inside of Two Beers Brewing. We caught up with Syd to chat more about about what makes this food truck so unique and how it came to be.

TELL US A BIT ABOUT BREAD AND CIRCUSES – WHAT ARE YOU GUYS ALL ABOUT?

I like to call Bread and Circuses “Gastropub” style. When we first started the truck, we were thinking about what theme to do, and Indian/Sri Lankan kept popping up. My fear with that was, we would be stuck doing that for the rest of our lives. Working with WYAM for a couple years, while the food was awesome, we were always stuck with those Creole limitations. I went with the Gastropub idea because it covers a wide array of cuisines, especially Indian. I knew we wouldn’t stop with the food truck, so it really allows us to flex our culinary muscles and have it make sense.

“I was scared shitless when we were getting things started, but a year later, I realize its the best decision I’ve ever made in my life.”

WHAT INSPIRED YOU TO OPEN A FOOD TRUCK?

James Barrington from Halava Fallafel and I had many beers at Chucks Hop Shop one night, and the idea just kind of popped out. I had been hustling for Skillet and WYAM for so many years, I knew all the angles, from how to get spots, how to keep food cost low, to how to set up catering events. I was scared shitless when we were getting things started, but a year later, I realize its the best decision I’ve ever made in my life.

WHAT IS YOUR FAVORITE STREET LOCATION AND WHY?

I would have to say Chucks Hop Shop Greenwood. My favorite thing about street food is being able to travel from different locations everyday, and not just stare out the same window if you were working in a kitchen, but I could go to Chucks everyday. Actually I pretty much do, just without the truck most of the times. I love the location because everyone there is like family, from the workers to the customers. I’ve had customers bring me gifts when my daughter was born and I’ve had Chuck share some Utopias with me. It also helps that its two blocks away from my house.

“We get a lot of comments in the vein of, “I hate brussel sprouts, but these are fucking awesome!”

WHAT’S YOUR MOST POPULAR MENU ITEM?

The Brussel Sprout Caeser. Chef Rob came up with the opening truck menu for the most part, but the Caeser was a collaborative effort. I used a couple ideas from places I’ve worked and eaten at to frankenstein the dish, and then Chef Rob threw on a pepperconi picked egg as a tribute to something his mom used to do. We get a lot of comments in the vein of, “I hate brussel sprouts, but these are fucking awesome!”

WHAT’S THE BIGGEST STRUGGLE YOU’VE FACED AS A (NEW) FOOD TRUCK?

A lot of the normal challenges that new trucks face came easy to me since I had been doing street food for 6 years before I started BC. The hardest part was probably just figuring out what we can do vs. what customers wanted. Most of us come from a fine dining background, so we really wanted to do some crazy stuff off the truck at the beginning. Turns out most people just wanted the burger, which is a great one, but we were really hoping the scrapple (pig face) grilled cheese would sell better! The other hurdle is explaining to some guests why the food cost are what they are. Most guests are cool, and get it, but sometimes you get the “Why is your burger $10 when I can get one for $2 at Burger King?”. You definitely don’t do street food to get rich. The margins are paper thin, and there are so many factors that you need to include in your price from commissary rentals to truck maintenance.

DO YOU HAVE ANY ADVICE YOU WOULD OFFER OTHER ASPIRING FOOD TRUCKS?

My advice would be to keep your hustle game strong. Street food is not like the movie “Chef”. You will not have 100 people waiting in line for you to open on your first day. You need to build up your clientele by putting out amazing food with great customer service. There a lot of hungry people in Seattle, and a lot of events, but you need to put your time in and know some days are going to be busts. You also need to factor all of bad days into your business plan and come up with pricing that makes sense and won’t leave you broke after a bad winter.

WHAT’S NEXT FOR BREAD AND CIRCUSES?

We have the one truck, and the pop up restaurant located within The Woods, which is the tasting room for Two Beers Brewing and Seattle Cider. Our next project is Candy Butcher Hot Dogs, which will be serving at the Marymoor Concert series all summer long as well as some special events. In Late 2016 we’ll be opening a restaurant with Geaux Brewing in Auburn as well as Bellevue. After that we have our eyes on doing an a 2nd truck that will be running out of the Eastside primarily. We also have a few fun tricks up our sleeves in addition to those projects.

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Sunday, May 1, 2016, marks the official beginning of Seattle’s food truck festival season with the 5th Annual Taco Libre Truck Showdown. Mobile Food Rodeo is back at it in Fremont with festival hours from 10am to 6pm. This year, over 20 trucks will be competing for the Best Taco in Seattle. Tacos are definitely the star of this show. But, if you’re looking for something sweet, the trucks have you covered. Here are a few of my favorite sweets on the street!

Hot Revolution Donuts will be there to curb your mini-donut fix. These lovely bites have a slightly crispy exterior and a warm, soft inside. Try the maple bacon. I know, I know – everyone does maple bacon. Trust me, the balance of the sweet and savory is just right. Looking for something a little different? The key lime and blueberries have a fresh, citrusy kick that will have you dreaming of summer. You’re welcome.

Lumpia World is a known favorite in this town. Lumpia, pancit, katsu, island mac and more! This family run truck has it all. People often get distracted by the fantastic savory food on the menu and miss the sweets. My favorite is the Thai Coconut Jasmine Rice Pudding. Yes, it’s a mouthful. Pro Tip: Ask for the RPL and they’ll know what’s up. The slightly sweet rice pudding inside a crispy lumpia exterior will make your mouth water. Top it with powdered sugar, coconut flakes, and caramel drizzle and I’ll follow you anywhere!

BeanFish is a familiar sight in Fremont, since Fremont Sunday Market is part of their regular route. They’ll be the first to tell you that my number one sweet pick is the classic, smooth vanilla custard taiyaki. Custard that’s not too sweet inside a dreamy fish-shaped waffle is my idea of a good time. If you’re not the custard type, no worries, they have plenty of other sweet options. Pro Tip: If you know you want it, get in line right away. Taiyaki can’t be rushed so better get it soon or stand in a really long line.

Off the Rez is well-known for savory frybread tacos. If you’re looking for dessert, try some of the sweet frybread. They often have a seasonal flavor during warmer months but I always choose lemon curd. It’s a bit sweet, a bit sour, and the texture of the frybread brings it all together.

My Sweet Lil Cakes was a game changer in Seattle. A waffle on a stick? Yes, please! Their savory chicken and waffle is to die for but don’t forget the sweets. Shown here is the blueberry lemon ricotta waffle with honey lemon syrup. All the comfort of a waffle rolled into a single, easily portable package.

Biscuit Box is part of a larger group called Mobile Mavens. Biscuits are transported from place to place in the cutest retro pop-up camper. There are plenty of savory options on their menu but I’m a sucker for a biscuit shortcake. Sweet, summery berries over a warm biscuit and please don’t forget the whipped cream!

If savory is more your style, you’re in luck. These trucks have savory menu options (with the exception of Hot Revolution). Sadly, I’ll be out of town for this event otherwise you’d definitely see me there.

]]>http://www.seattlefoodtruck.com/6-must-try-desserts-at-the-2016-taco-libre-truck-showdown/feed/0The 11 Best Food Trucks In Seattlehttp://www.seattlefoodtruck.com/the-11-best-food-trucks-in-seattle/
http://www.seattlefoodtruck.com/the-11-best-food-trucks-in-seattle/#respondWed, 30 Dec 2015 22:20:15 +0000http://seattlefoodtruck.com.s59087.gridserver.com/?p=58942015 will, of course, end with a multitude of Best of lists. Most of the food truck lists are made by people who have probably never been to Seattle, and if...

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2015 will, of course, end with a multitude of Best of lists. Most of the food truck lists are made by people who have probably never been to Seattle, and if they have, never eaten at any those trucks. We thought we’d share OUR list of favorites. And yes, we’ve been to these many times. We love them. You should too!

In no particular order …

Jemil’s Big EasyIt’s no secret we love Jemil, Candace, and the gang. They rock it every time. What makes this truck so special? Insanely great Cajun and rotating daily specials. If you happen to catch the savory beignets on the daily tweet you should drop everything you’re doing and RUN to the big yellow truck!

XplosiveIn two words: consistently delicious. Their menu is simple and so fresh! Our favorite is the GRENADE Banh Mi Slider with egg and Longanisa sausage, the tastiest you’ve ever had. There is magic in that pickled veg! And don’t miss out on their BOOM Vermicelli Bowl with lemongrass chicken, always refreshing!

Bread and Circuses
Everything they make goes great with beer, and who can argue a menu that lives up to that!? The Slammin’ Salmon Seattle Reuben – a pastrami-cured salmon sandwich which is to die for, not to mention the Jive Espresso Stout Brownie for dessert. And lucky you, they just opened a brick and mortar inside one of our favorite SoDo breweries, The Woods, Two Beers & Seattle Cider!

Delicatessen Montanti
Those of us from the other side of the country are often reminiscent for the food from back home. For the other half of the SFT team, that craving is sub sandwiches. No one fills that void like Delicatessen Montanti. No prefab sandwiches here; just tell him what you love on it and he’ll make it. He’s also the only place in town to use Sabrett’s hot dogs – totally East coast!

Caravan CrêpesAbout a year ago we did a series on “A Week at Chuck’s Hop Shop.” Caravan Crêpes was the one truck we sat down to that made us feel like we were having a real meal. Fresh, inventive flavors served up with a lightly dressed side salad. Her specials are always local and incredible. Just thinking about them makes me hungry …

NOSH
Fish and chips. Like, the BEST English fish and chips, served up on newsprint with a side of bright green mushy peas. So light and crispy. Add to that his marrow bone special. And did we mention that he’s the ONLY food truck to offer a foie gras milkshake? This is not your typical street food.

Street Treats
One of the first trucks we ever went to in Seattle, and still the best (in our opinion) sweets truck around. Made from scratch — like REALLY from scratch — ice cream. We highly recommend getting it squished between two freshly baked cookies for the ultimate in indulgent food truck creations.

I Love My GFF
After your appetizer of cookies and ice cream, get yourself back on track with a big Sunshine Bowl from I Love My GFF. Even if you’re not gluten free, you can’t go wrong with one of these filling quinoa bowls. With toppings of your choice such as cheese, beans, pumpkin seeds, and peppers, you will leave with a full and healthy tummy!

The Box
And finally, a little Eastside love. The Box makes absolutely perfect Karaage Chicken. So sticky and good it’s worth driving all the way to their usual Redmond/Bellevue/Kirkland stops. And they do this amazing thing with salad — it’s so simple, but probably one of the best I’ve had from truck OR restaurant. You really do have to try it to believe it!

Hallava Falafel
One of Seattle’s first food trucks and a Georgetown staple, Hallava Falafel food truck serves up some of the best falafel’s we’ve found in or out of a food truck! Made fresh daily and served with beet relish, spinach and cabbage mix, tzatziki, wild Armenian pickle, and a secret spice mix served in a warm pocketless pita! They even make their own hummus with garbanzo beans and REAL olive oil! A must try!

Snout & Co.
Lee Scott, owner and operator of Snout & Co has been serving up a delicious mix of cuban and southern cuisine for the last 4 years and consistently win awards year after year for their amazing pork centric dishes. One of their most popular dishes, the Cuban bowl, is a delicious garlic and citrus marinated pork over black beans and rice with plantains and their signature smoked tomatillo-coconut sauce! And make sure you grab a bottle to-go. You’ll thank us later!